The Azerbaijani parliament has adopted the draft law on the state budget for 2016.
The revenues of Azerbaijan’s state budget for 2016 are forecast to reach 14.566 billion manats ($13.9 billion). In comparison with 2015, the budget revenues will decline by 25.1%. While the expenditures will be 16.264 billion manats ($13.9 billion), as compared to 2015, it will fall by 22.9%, TASS reports.
The budget was established based on a price of $50 for a barrel of oil.
According to Azerbaijani Finance Minister, Samir Sharifov, it was proposed to allocate additional funds for resolving the problems of refugees and internally displaced persons. Expenditures for this purpose have been increased by 50% to 150 million manats. The additional expenditures will be ensured through transfers from the State Oil Fund of Azerbaijan, APA reports.
